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21Shares has added staking rewards to the Ethereum Core ETP, and renamed the product as Ethereum Core Staking ETP.
Swiss-based exchange-traded cryptocurrency products company 21Shares AG added Staking to Ethereum Core ETP, and renaming the product to 21Shares Ethereum Core Scking ETP.
In a press release On November 19, an ETP source said the latest update allows investors to benefit from a potential income stream while maintaining exposure to Ethereum (Ethereum).
Hani Rashwan, co-founder and CEO of 21Shares, said the addition of stakes to ETHC is the company’s latest move to “provide the European market with cutting-edge digital asset products.” The Ethereum Core Stake ETP, available under the ticker ETHC, is listed on several exchanges, including the SIX Swiss Exchange, Deutsche Börse Xetra, Euronext Amsterdam, Euronext Paris, and the London Stock Exchange.
The product is actually backed by Ethereum, tracks the performance of ETH, and features a management fee as low as 0.21%.
Unlike US-issued ETFs, European ETFs like ETHC are allowed to offer staking rewards. In contrast, the SEC has rejected Ethereum ETFs offering staking rewards due to concerns about market manipulation, lack of regulatory oversight of staking activities, and potential risks for retail investors, particularly in the volatile cryptocurrency market.
As of press time, the average staking return on Ethereum is 3.17%, according to data from Staking Rewards.
